In the midst of the current saga of vaccines against the coronavirus (COVID-19), the Financial Times (FT) published an article, relying on Wall Street analysts, to suggest a 20% drop in the US dollar index (DXY) during the year. 2021 if vaccines cause an economic rebound. The report quotes Calvin Tse of Citi Bank as […]
Tag: Banks
S&P 500 needs to hold support at 3,585 to maintain immediate bullish bias
Credit Suisse economists maintain a Tactical bullish outlook for a return to 3,645 points, followed by trend resistance since February at 3,668, but with support at 3,585 needing to hold to keep the immediate risk of the S&P 500 skewing higher. Key Comments: “The S&P 500 rally has stopped short term, but with support from […]
Neutral gold, within the limits of 1850-1973.80 – Commerzbank
Gold (XAU / USD) reversed direction recently just before the mid-September 1973 high.80, but continues to hold above the 1850 low, describe Commerzbank strategists, who are metal-neutral. Key statements: “Si a break of the 1850 support is observed, we would allow additional losses to the 200-day moving average at 1792.24 and possibly the May high […]
USD / BRL will continue to trade in a wide range between 5.18 and 5.65 – Credit Suisse
The Brazilian real (BRL) has been one of the main beneficiaries after the rise after the US elections among emerging currencies along with the lira ture (TRY), explain analysts at Credit Suisse. They have lowered the USD / BRL target range to 5.18-5.65 but continue to see medium-term concerns about the fiscal outlook that ultimately […]
USD / JPY still focused on the 103.75-105.20 range – UOB
The USD/JPY does not rule out further weakness, although the wider trading range of 103.75-105.20 is expected to prevail in the coming weeks. 24 hour perspective: “The USD traded yesterday between 104.05 and 104.61, lower and in a narrower band than our expected range of 104.15 / 104.75. The bearish momentum has improved slightly, but […]
GBP / USD still points towards the 1.3280 level – UOB
The pound is aiming for more gains on a breakout above 1.3280, as noted by currency strategists from UOB Group. 24 hour perspective: “We expected the GBP to strengthen yesterday, but we are of the opinion that it probably cannot stay above this level. We indicate that the next resistance is at 1.3280. Subsequently, the […]
Bullish Momentum Improves – UOB
According to the currency strategists of UOB Group, el EUR / USD must exceed 1.1920 to allow additional gains. 24 hour perspective: “We highlighted yesterday that the EUR could move above 1.1880, but the main resistance at 1.1920 was unlikely to be threatened. Our view was not bad as the euro retreated after hitting a […]
It is not unreasonable to imagine the Fed embarking on a rate hike cycle in 3-4 years
The Bank of America (BofA) recently highlighted the probabilities of a Fed rate hike in the next 3 or so years, or even sooner, considering the 10-year bond yields and the economic transition. The US bank quotes Fed Chairman Jerome Powell, although he initially defied rate hike probabilities before saying, “the market is thinking about […]
USD / JPY trapped within a range between 103.75-105.20
USD / JPY is likely to extend the consolidation move between 103.75 and 105.20 in the coming weeks, in the opinion of UOB Group’s currency strategists. Key Comments: 24 hour view: “USD / JPY rose to a high of 105.06 yesterday before falling rapidly again. Choppy price actions have led to mixed prospects. For today, […]
GBP / USD: Additional gains expected above 1.3280
GBP / USD could extend the rally to the 1.3320 region once it breaks above 1.3280have suggested the currency strategists at UOB Group. Key Comments: 24 hour view: “The GBP / USD traded yesterday between 1.3167 and 1.3242 before closing practically unchanged at 1.3202 (+ 0.02%). The bullish momentum shows a possible sign of improvement […]
